Checking or savings account -- Opening an account -- Complaint #7978187
Complaint Overview
Complaint ID: 7978187
Company: BMO Bank National Association
Product: Checking or savings account
Sub-Product: Savings account
Issue: Opening an account
Sub-Issue: Unable to open an account
State: Minnesota
ZIP Code: 55423
Date Received: 2023-12-10T12:00:00-05:00
Date Sent to Company: 2023-12-11T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
On XXXX at about XXXX XXXX Central time, I went online to open a BMO Alto online high yield savings account at https : //alto.bmo.com/ I entered all of the requested application information carefully and accurately, triple-checking the accuracy of each piece of information that I entered. I submitted the online application and was immediately informed onscreen, " Sorry! We're unable to approve your application today. We'll send you an email with more information. '' An email followed shortly afterward which stated, " Thank you for your interest in BMO Alto. Unfortunately, your account application has been declined. '' It did not provide any specific reason for my application being declined. I then called the customer service number provided on their website ( XXXX XXXX ) and spoke to a customer service representative. I provided her with my application information, and she reviewed my application, telling me that I was declined because they could not verify my identity. She said this could have been caused by me not entering my information correctly on the application. There is NO WAY that I did not enter my information correctly, as it was basic personal information that I provide frequently, and I was very careful as stated above. My credit is stellar ( exceptional rating ), and I do not have one single blemish on my credit report. I have never been declined on any application that I have submitted previously. I have opened several other online high yield savings accounts in the past few years with no issues whatsoever. This declination is very unusual and suspicious and in doing some online research, I have seen many other comments and testimonials by other BMO Alto applicants who said there were also declined for no good reason. I believe there are problems with their systems or procedures which are causing applicants to be falsely declined. Not only does this prevent me from opening an account that should be available to me, but my credit report and rating are also being adversely affected by this wrong, incorrect declination of my application. I request that I be allowed to open this BMO Alto high yield savings account and any other deposit accounts being offered. I also request that any adverse reporting from BMO Alto to any credit agency as a result of this application declination be removed from my credit report and rating. For your reference, my Application ID is as follows : XXXX
Frequently Asked Questions
What is Complaint #7978187 about?
Complaint #7978187 was filed against BMO Bank National Association regarding Checking or savings account specifically about Opening an account. It was received by the CFPB on 2023-12-10T12:00:00-05:00.
How did BMO Bank National Association respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Checking or savings account) and describe your issue in detail.
Can I see other complaints against BMO Bank National Association?
Yes, visit the BMO Bank National Association company profile at readthecomplaint.com/company/bmo-bank-national-association to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.